Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30true2022-07-01falseholiday lettings33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09098023 2022-07-01 2023-06-30 09098023 2021-07-01 2022-06-30 09098023 2023-06-30 09098023 2022-06-30 09098023 c:Director1 2022-07-01 2023-06-30 09098023 c:Director2 2022-07-01 2023-06-30 09098023 c:RegisteredOffice 2022-07-01 2023-06-30 09098023 d:PlantMachinery 2022-07-01 2023-06-30 09098023 d:PlantMachinery 2023-06-30 09098023 d:PlantMachinery 2022-06-30 09098023 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09098023 d:FurnitureFittings 2022-07-01 2023-06-30 09098023 d:FurnitureFittings 2023-06-30 09098023 d:FurnitureFittings 2022-06-30 09098023 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09098023 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 09098023 d:CurrentFinancialInstruments 2023-06-30 09098023 d:CurrentFinancialInstruments 2022-06-30 09098023 d:Non-currentFinancialInstruments 2023-06-30 09098023 d:Non-currentFinancialInstruments 2022-06-30 09098023 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 09098023 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 09098023 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 09098023 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 09098023 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 09098023 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 09098023 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 09098023 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 09098023 d:ShareCapital 2023-06-30 09098023 d:ShareCapital 2022-06-30 09098023 d:RetainedEarningsAccumulatedLosses 2023-06-30 09098023 d:RetainedEarningsAccumulatedLosses 2022-06-30 09098023 c:OrdinaryShareClass1 2022-07-01 2023-06-30 09098023 c:OrdinaryShareClass1 2023-06-30 09098023 c:OrdinaryShareClass1 2022-06-30 09098023 c:FRS102 2022-07-01 2023-06-30 09098023 c:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09098023 c:FullAccounts 2022-07-01 2023-06-30 09098023 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09098023 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 09098023 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 09098023 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09098023










BIG SKY HOLIDAYS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
BIG SKY HOLIDAYS LIMITED
 
 
COMPANY INFORMATION


Directors
Peter Dennis Andrew D'amery 
Tracey Louise D'amery 




Registered number
09098023



Registered office
Bromholm Barn
Rookery Farm Road

Ridlington

Norfolk

NR28 9UH




Accountants
MA Partners LLP

12 Church Street

Cromer

Norfolk

NR27 9ER





 
BIG SKY HOLIDAYS LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 11


 
BIG SKY HOLIDAYS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BIG SKY HOLIDAYS LIMITED
FOR THE YEAR ENDED 30 JUNE 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Big Sky Holidays Limited for the year ended 30 June 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Big Sky Holidays Limited, as a body, in accordance with the terms of our engagement letter dated November 2023Our work has been undertaken solely to prepare for your approval the financial statements of Big Sky Holidays Limited  and state those matters that we have agreed to state to the Board of Directors of Big Sky Holidays Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Big Sky Holidays Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Big Sky Holidays Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Big Sky Holidays Limited. You consider that Big Sky Holidays Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Big Sky Holidays Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
12 Church Street
Cromer
Norfolk
NR27 9ER
19 February 2024
Page 1

 
BIG SKY HOLIDAYS LIMITED
REGISTERED NUMBER: 09098023

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,939
8,441

  
16,939
8,441

Current assets
  

Debtors: amounts falling due within one year
 5 
18,170
-

Bank and cash balances
  
7,243
39,582

  
25,413
39,582

Creditors: amounts falling due within one year
 6 
(14,681)
(13,630)

Net current assets
  
 
 
10,732
 
 
25,952

Total assets less current liabilities
  
27,671
34,393

Creditors: amounts falling due after more than one year
 7 
(6,750)
(9,750)

Provisions for liabilities
  

Deferred tax
 9 
(2,299)
(1,604)

  
 
 
(2,299)
 
 
(1,604)

Net assets
  
18,622
23,039


Capital and reserves
  

Share capital
 10 
100
100

Profit and loss account
  
18,522
22,939

  
18,622
23,039


Page 2

 
BIG SKY HOLIDAYS LIMITED
REGISTERED NUMBER: 09098023
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2024.




Tracey Louise D'amery
Peter Dennis Andrew D'amery
Director
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is Bromholm Farm, Rookery Farm Road, Ridlington, Norfolk, NR28 9UH.
The company's principal activity is that of the provision of holiday accommodation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide holiday accommodation is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 4

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

 The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2022
19,819
865
20,684


Additions
9,688
1,865
11,553



At 30 June 2023

29,507
2,730
32,237



Depreciation


At 1 July 2022
11,555
688
12,243


Charge for the year on owned assets
2,644
411
3,055



At 30 June 2023

14,199
1,099
15,298



Net book value



At 30 June 2023
15,308
1,631
16,939



At 30 June 2022
8,264
177
8,441


5.


Debtors

2023
2022
£
£


Other debtors
18,170
-

18,170
-


Page 8

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,000
3,000

Trade creditors
974
1,584

Corporation tax
370
3,354

Other taxation and social security
9,407
59

Other creditors
-
4,823

Accruals and deferred income
930
810

14,681
13,630



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
6,750
9,750

6,750
9,750


Page 9

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,000
3,000


3,000
3,000

Amounts falling due 1-2 years

Bank loans
3,000
3,000


3,000
3,000

Amounts falling due 2-5 years

Bank loans
3,750
6,750


3,750
6,750


9,750
12,750


Page 10

 
BIG SKY HOLIDAYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Deferred taxation




2023


£






At beginning of year
(1,604)


Charged to profit or loss
(695)



At end of year
(2,299)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,299)
(1,604)

(2,299)
(1,604)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Preference shares of £1.00 each
100
100



11.


Related party transactions

At 30 June 2023, the directors owed the company £18,043 in respect of overdrawn directors'  loan accounts. The loans are repayable on demand and are included within other debtors on the balance sheet. These loans were repaid after the balance sheet date.

 
Page 11